According to 2014 data on the U.S. population, which of the following was correct for the adult population of prime working age, ages 25-54?
a. Black females had higher labor-force participation rates and lower unemployment rates compared to white females.
b. Black females had similar labor-force participation rates and higher unemployment rates compared to white females.
c. Black females had both lower labor-force participation rates and lower unemployment rates compared to white females.
d. Black females had lower labor-force participation rates and higher unemployment rates compared to white females.
b
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Suppose a union successfully negotiates for its members a wage rate that is above the competitive wage rate, then
A) there will be a surplus of jobs. B) antitrust laws become effective. C) there will be downward pressure on the wage rate until equilibrium is established. D) there will be an excess supply of labor.
If the number of close substitutes of a good increases, _____
a. the elasticity of demand for the good decreases b. the elasticity of demand for the good increases c. the elasticity of demand for the good becomes zero d. the elasticity of demand for the good remains unaffected